The initial public offering (IPO) of Seshaasai Technologies opened for subscription on Tuesday, September 23, and will close on Thursday, September 25. The mainboard issue has already been fully subscribed, and grey market trends indicate the stock may debut at a premium.
Seshaasai Technologies IPO subscription status
The last day of subscription for Seshaasai Technologies IPO will begin at 10:00 am on Thursday, September 25.
Seshaasai Technologies IPO Review
Motilal Oswal Wealth Management has a “subscribe” recommendation on the issue.
“Seshaasai has a leadership position in the regulated payment solutions industry with advanced pan-India manufacturing capabilities and an elite client base. With high industry growth potential, strong financial performance and fair valuation at 30.8 times FY25 P/E, offering a PEG ratio of 0.82, we recommend investors to ‘subscribe’ to the issue,” said the brokerage firm.
Master Capital Services believes the company is well-positioned to capture this upcoming growth by consolidating its leadership in payment solutions and expanding offerings in the IoT and RFID space.
“It is also focusing on entry into international markets. Investors may consider the IPO as a long-term investment opportunity,” said the brokerage firm.
Seshaasai Technologies IPO GMP today
According to stock market sources, the last grey market premium (GMP) of the Seshaasai Technologies IPO was ₹55. Considering the upper price band of the issue at ₹478 per share, the estimated listing price of Seshaasai Technologies shares is ₹498, a premium of 13 per cent.
Seshaasai Technologies IPO details
Seshaasai Technologies’ IPO, priced in the range of ₹402- ₹423 per share, will close on Thursday, September 25.
The mainboard offering includes a fresh issue of 1.13 crore equity shares worth ₹480 crore and an offer-for-sale (OFS) of 78.74 lakh shares totaling ₹333.07 crore.
IIFL Capital Services Ltd. is acting as the book-running lead manager, while MUFG Intime India Pvt. Ltd. is the registrar for the issue. The company plans to utilize the net proceeds for capacity expansion at its existing manufacturing facilities, repayment and prepayment of debt, and other general corporate purposes.
The basis of allotment will be finalized on Friday, September 26. Successful bidders will receive shares in their demat accounts on Monday, September 29, with refunds for non-allottees processed the same day. The company’s shares are scheduled to debut on both the BSE and NSE on Tuesday, September 30.